Kent-based Keaveney Plant Hire Ltd has added a state-of-the-art Suction Excavator to its fleet, thanks to financing from Paragon Bank.

The plant hire specialist, based in Ashford, secured £450,000 from Paragon's SME Lending Construction team to acquire the new asset, helping it to meet escalating business demands and expand its service offering.

The firm’s Managing Director, Andrew Keaveney, developed a strong rapport with Paragon's SME Lending team having previously secured financing from the bank. Keaveney Plant Hire Ltd is a division of the wider family-run business founded in 2007, The Keaveney Group. It’s recognised as a key supplier in the industry and combines family values and innovative technology, resulting in a cost-effective service with strong client partnerships.

The newly acquired ESE 6 RD RSP Suction Excavator is mounted on a  Mercedes Benz Arocs 8x4x4 Chassis Cab with cutting-edge features, such as a fully hydraulic articulated hose carrier, and is the ideal solution for working at distances ranging from zero to six metres.

Thanks to the support of Paragon's Construction team, Keaveney Plant Hire Ltd can further commit to providing an array of equipment to its clients. Tracey Cronin, Business Development Manager in Paragon’s Construction team, led the deal on behalf of the bank.

Commenting on the funding secured from Paragon, Andrew Keaveney said: "Thanks to the support from Paragon Bank's SME Lending division we have secured the necessary financing to elevate our operations. The acquisition of the Suction Excavator enables us to meet the growing demand for this asset."

Commenting on the support provided to Keaveney Plant Hire Ltd, Tracey Cronin, Business Development Manager in Paragon's Construction team, said: "We are thrilled to assist Keaveney Plant Hire Ltd in its journey of growth and fleet expansion. Our partnership with Andrew Keaveney and his dedicated team has been further strengthened, and we take pride in continuing to provide financing solutions that drive its success."

For further information contact:

Annette Coyle
Media Relations Executive
Tel: 0121 712 2313

www.paragonbank.co.uk 

Notes to editors:

Paragon Bank PLC a subsidiary of the Paragon Banking Group PLC which is a FTSE 250 company based in Solihull in the West Midlands. Established in 1985, Paragon Banking Group PLC has over £14 billion of assets under management, helping more than 340,000 customers to achieve their ambitions.

Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551.